Eurasia News

Qatar's planned expansion of liquefied natural gas (LNG) production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts say.Qatar, one of the world's top LNG exporters, plans an 85% expansion in LNG output from its North Field's current 77 million metric tons per year (mtpa) to 142 mtpa by 2030, from previously expected 126 mtpa.Some market experts said that the move will have an impact on global projects in the United States…

Chinese officials have asked their Iranian counterparts to help rein in attacks on ships in the Red Sea by the Iran-backed Houthis, or risk harming business relations with Beijing, four Iranian sources and a diplomat familiar with the matter said.The discussions about the attacks and trade between China and Iran took place at several recent meetings in Beijing and Tehran, the Iranian sources said, declining to provide details about when they took place or who attended."Basically, China says: 'If our interests are harmed in any way, it will impact our business with Tehran.

Berg Propulsion secured its first new tug order in Türkiye since the opening of Berg Propulsion Eurasia in April 2022, contracted to provide a range of propulsion and control equipment for a harbor tug to be built at İÇDAŞ Shipyard.Built to a Robert Allan design, the newbuild RAscal 2000 tug will join the İÇDAŞ fleet to support drydock operations and activities in its surrounding port area of Çanakkale, northwest Türkiye.The kit selected was the twin BERG MTA 318 Fixed Pitch Azimuth Thrusters…

Berg Propulsion opened new offices in Istanbul to reinforce its presence in Turkey and the surrounding region. The operation will be led by Mustafa Müslüm, who has been appointed General Manager, Berg Propulsion Eurasia.Müslüm is familiar with the Berg Propulsion organization, having led regional activities on behalf of Berg Propulsion between 2005 and 2013 Istanbul and Dubai. He went on to serve Reintjex Eurasia and then Schottel Turkey, building on his network of contacts with local designers, owners and yards.

The global oil demand will peak in the mid-2020s and gas demand will keep rising to 2033, says DNV GL.Gas demand will then plateau, and the fuel will remain dominant until the end of the forecast period in 2050, when it will account for over 29% of the world’s energy supply, it said.Significant investment will be required to ensure production meets demand, including realising the potential from stranded gas reserves and for reserve replacement. DNV GL forecasts global upstream gas capital expenditure to reach USD 737 billion (bn) in 2025, and USD 587 billion in 2050.According to  2019 Energy Transition Outlook, a report by DNV GL, unconventional onshore gas will increase from 2019 right through to the end of the forecast period, growing by 68% from 2017 production levels.

The international oil & gas advisory and classification society DNV GL has won a major contract to provide independent verification services for the Danish transmission system operator Energinet’s section of the Baltic Pipe project, offshore Denmark.The Baltic Pipe project aims to enable the transport of gas from Norway from a tie-in to the existing Europipe II in the Danish North Sea to the export facility in Zealand. The pipeline in the Baltic Sea towards Poland is not included in the contract. The Baltic Pipe project is planned to be fully operational by 1 October 2022.DNV GL’s contract scope includes independent verification and submarine pipeline certification to the DNV GL certification regime DNVGL-SE-0475.

Iran's Port of Amirabad is aiming to strengthen and develop transit from CIS countries to Afghanistan through the port.Managing Director of Amirabad Port Siavash Rezvani visited the Special Economic Zone of Dogharoon in line with the plans of pushing transit from Commonwealth of Independent States (CIS) countries to Afghanistan through Amirabad port.The Commonwealth of Independent States is a regional intergovernmental organization of 10 post-Soviet republics in Eurasia formed following the dissolution of the Soviet Union.According to a press release from the Ports & Maritime Organization (PMO), Iran, while visiting the Special Economic Zone of Dogharoon, Siavash Rezvani stated that Afghanistan is one of the target markets for the transit of goods from Caspian littoral states.Amir Abad por

Iran's Shahid Beheshti Port in Chabahar, which was taken over by Indian Ports Global Limited last month, registered high volumes in in container loading and unloading.“Container and petroleum products unloading and loading in the Chabahar port have increased by 61% and 81% respectively,” Behrooz Aghaee, Director General of Ports and Maritime of Sistan and Baluchestan Province said.Detailing on the performance of the Chabahar port, Aghaee pointed that Loading and unloading of containers operations has grown by 61% within the last 10 months compared to the same period last year. Loading and unloading of petroleum products has been 80% higher than in the same period last year.According to a recent report…

While DNV GL’s model predicts global oil demand to peak in 2023, demand for gas will continue to rise until 2034. New resources will be required long after these dates to continue replacing depleting reserves. DNV GL’s 2018  Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050, predicts global upstream gas capital expenditure to grow from USD960 billion (bn) in 2015, to a peak of USD1.13 trillion in 2025. Upstream gas operating expenditure is set to rise from USD448 bn in 2015 to USD582 bn in 2035, when operational spending will be at its highest.“The energy transition will be made up of many sub-transitions. Our Outlook affirms that the switch in demand from oil to gas has already begun.

Nearly two-thirds (64%) of oil and gas sector leaders expect to increase or sustain spending on gas projects in 2018, as the sector prepares for gas to overtake oil as the world’s primary energy source in the mid-2030s. Confidence in the case for gas is growing, according to a survey by DNV GL, the technical advisor to the industry. The vast majority (86%) of the 813 senior industry professionals surveyed agree that gas - the least carbon-intensive fossil fuel - will play an increasingly important role in the global energy mix over the next decade, up from 77% last year. The findings appear in Transition in Motion, a special report from DNV GL’s research on the outlook for the oil and gas industry in 2018.

DNV GL said it has completed a workscope with the European Bank of Reconstruction and Development (EBRD), under funding provided by the EU, to develop guidance for the Greek offshore safety competent authority, Hellenic Ηydrocarbons Resources Management (HHRM), under Greek law 4409/2016 which enacts EU directive (2013/30/EE) on offshore safety. The offshore major hazards guidance was presented to several international and domestic companies and the ministry of environment and energy in Athens, on March 1, 2018. HHRM, as the competent authority, is responsible for the regulation of offshore hydrocarbon operations with regards to major hazards and is responsible for developing the relevant legislative framework for Greece.

DNV GL opens LNG test center. The facility, at the organization’s existing renewable energy technology and gas laboratory site is the first type of facility with a capacity compatible for the downstream sector. Its capacity is up to 250kg of liquefied gas and boasts a heat exchanger that allows the temperature of the LNG – and therefore its boil-off – to be precisely regulated. Johan Holstein, Head of gas testing and analysis at DNV GL – Oil & Gas, said the testing of new sensor technology to rapidly identify the composition of LNG would be a priority. “The current accredited technology, gas chromatography, can take 3-5 minutes to show the composition of LNG,” Holstein explained.

Russia's Eurasia Drilling Company (EDC) said on Thursday it would sell a 51 percent stake in the company to the oilfield services provider, U.S.-based Schlumberger NV.   The agreement is subject to approval by the Federal Antimonopoly Service of Russia (FAS), the company said. Financial terms of the deal were not disclosed since it is subject to approval.   The agreement, if approved, would extend a strategic alliance with Schlumberger that dates to 2011, Eurasia added.   EDC is an onshore and offshore drilling and well services contractor. EDC owns and operates one of the largest fleets of land drilling and workover units in the world.   Schlumberger provides technology for reservoir characterization, drilling, production, and processing to the oil and gas industry.

Group of Arab states cuts all ties with Qatar; tankers going to/from Qatar barred from Fujairah port. Oil prices slipped further below $50 a barrel on Tuesday on concerns that a diplomatic rift between Qatar and several Arab states including Saudi Arabia could undermine efforts by OPEC to tighten the market. Benchmark Brent crude oil was 10 cents a barrel lower at $49.37 by 1110 GMT, down around 8 percent from the open of futures trading on May 25, when an OPEC-led policy to cut oil output was extended into the first quarter of 2018. U.S. light crude was down 10 cents at $47.30. Leading Arab powers including Saudi Arabia, Egypt and the United Arab Emirates cut ties with Qatar on Monday, accusing it of support for Islamist militants and Iran.

As of August 14, Arctic sea ice extent is tracking third lowest in the satellite record, according to the National Snow & Ice Data Center (NSIDC). The southern route through the Northwest Passage appears to be largely free of ice. Despite a rather diffuse ice cover in the Chukchi Sea, it is unlikely that Arctic sea ice extent this September will fall below the record minimum set in 2012. As of August 14, Arctic sea ice extent was 5.61 million square kilometers, the third lowest extent in the satellite record for this date and slightly below the two standard deviation range.

DP World Yarimca has been officially opened for business by the President of the Republic of Turkey, Recep Tayyip Erdoğan in the presence of senior government officials and executives of DP World. President Erdoğan joined the opening yesterday by teleconference in the presence of the Minister of Transport, Maritime and Communications of the Republic Turkey, Binali Yıldırım; Minister of Foreign Affairs of the Republic of Turkey, Mevlüt Çavuşoğlu; Minister of Environment and Urbanisation of the Republic of Turkey, Fatma Güldemet Sarı; The Republic of Turkey and Prime Ministry and Investment and Promotion Agency, Arda Ermut and DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem.

The Bank of China and the Port of Rotterdam Authority signed a Memorandum of Understanding aimed at strengthening relations between China and the Netherlands. Through this Memorandum, the Port of Rotterdam Authority and the Bank of China, one of the top five state-owned commercial banks, re-affirm their intention to build a long-term alliance. The two parties intend to work together on identifying, attracting and developing business opportunities in, among other areas, logistics, containers, shipping and rail infrastructure, within the framework of the Chinese government’s ‘One Belt, One Road’ strategy. Public and private sector parties in China are investing in…

On August 16, 2015, the geographic North Pole was visited by a Russian surface ship for the one-hundredth time. The Russian nuclear icebreaker 50 Let Pobedy (50 Years of Victory) carried 106 tourists from 16 different countries. This was the icebreaker’s seventh cruise to the Pole just this season. Each voyage takes just less than two weeks round trip, and that includes a full day of partying at the top of the world. This is all available for a starting cost of $26,995 per person for a basic two-person cabin with a standard twin bed…

A report in the Straits Times Vietnam is set to build a US$2.5 billion seaport in Ca Mau, its southernmost province, hoping to steal some spotlight away from the more popular regional hubs Singapore and Malaysia and could be a clue to Kra Canal. Vietnam announced that it would build a US$2.5 billion deep-water seaport, named Hon Khoai Port, on an island 17km off the coast of Ca Mau, Vietnam's southern-most province. The project was approved by Vietnamese Prime Minister Nguyen Tan Dung. The decision to build the portdoes not really make complete economic sense - until it is superimposed on the potentially heady commercial traffic the Kra Canal stands to provide.

Pon Holdings BV will take over part of the bankrupt Royal Imtech, a leading company in the global maritime market. Dutch engineering services company Imtech Marine will continue to operate independently after the acquisition. Parcom Capital is also partnering in this acquisition. The acquisition price is not disclosed. The ailing Imtech was formally declared bankrupt on Thursday. The takeover creates peace of mind and security amongst employees, customers and suppliers. Imtech is  operating as a full-service provider and system integrator of tailor-made, innovative and sustainable technology solutions covering the whole ship. The company employs nearly 2500 staff at almost 100 offices in 30 countries, close to shipbuilding centers and along the shipping routes.

“One Belt, One Road” is a Chinese development strategy launched at the end of 2013 that focuses on connectivity and cooperation among countries primarily in Eurasia. The strategy has two main components, namely the land-based “Silk Road Economic Belt” and the ocean-going “Maritime Silk Road.” Antwerp has a potentially very important role to play in both these routes as a major trading hub, and so the Port Authority is setting up a special taskforce for this purpose. The importance of this project for Europe can hardly be underestimated, and so during the recent state visit to China by king Philippe of Belgium the country applied to join the new Asian Infrastructure Development Bank, the investment bank behind the strategy.

Eurasia Drilling Company Limited has appointed Taleh Aleskerov as Chief Financial Officer commencing April 1, 2015. Mr. Aleskerov has served as Senior Vice President - Finance of the Company's chief Russian subsidiary since 2007. W. Richard Anderson is resigning as the Company's Chief Financial Officer effective April 1, but remaining a member of the Company's Board of Directors. The Company's Chief Executive Officer, Alexander Djaparidze, said "We are delighted to welcome Taleh Aleskerov as our new Chief Financial Officer. His prior financial work with the Company makes him eminently qualified to undertake this position.

Eurasia Drilling Company Limited (the "Company") announces that Schlumberger B.V. ("SLB") and the Company are continuing to cooperate with the Russian Federal Anti-Monopoly Service ("FAS") to respond to requests for information regarding the transaction described in the circular to Shareholders dated 20 January 2015. The merger (the "Merger") between the Company and EDC Acquisition Company Limited ("EACL") and the related transaction with SLB will only be completed once all conditions precedent set out in the merger agreement dated 20 January 2015 between the Company and EACL (the "Merger Agreement") have been satisfied, including FAS confirming that SLB and the Company have responded to all information requests to FAS's satisfaction and that no further notification to…